Provide a concise narrative that clearly states each of (a)–(e) below.
Sui is a decentralized permissionless smart contract platform oriented toward low-latency asset management and broad-scale web3 application support. (Source: The Sui Smart Contracts Platform, The Sui Smart Contracts Platform: Economics and Incentives)
Ongoing Sui operations rely on permissionless validators, delegated proof-of-stake, and foundation-managed support programs. Publicly disclosed support mechanisms include the Community Reserve, delegation, grants, research and development, validator subsidies, education, conferences, and developer outreach. (Source: SUI Token Allocation, Supporting Decentralization and the Sui Community, The Sui Foundation Partners with BitGo for Digital Asset Management)
At a high level, Sui uses the Move programming language to define assets as objects, maintains the network through a permissionless validator set, and parallelizes execution where possible rather than forcing all activity through a single serialized path. (Source: The Sui Smart Contracts Platform, The Sui Smart Contracts Platform: Economics and Incentives)
SUI is used for staking and delegation, payment of gas fees, onchain liquidity, and participation in governance and onchain voting. (Source: Announcing Sui Tokenomics, The Sui Smart Contracts Platform: Economics and Incentives, SUI Token Community Access Program)
Publicly, Sui relies on delegated proof-of-stake and stake-weighted governance mechanisms. Validators with sufficient stake can join the validator set, tokenholders can influence operations through delegation, and onchain voting is used for governance and protocol upgrades. (Source: Supporting Decentralization and the Sui Community, Announcing Sui Tokenomics, Response to the Cetus Incident – Onchain Community Vote)
For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the: (a) full names, (b) official titles, (c) and prior experience of key team members. For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.
Full Name | Entity | Official Title | Prior Experience |
|---|---|---|---|
Evan Cheng About - Mysten Labs | Labs/DevCo | Co-Founder, CEO About - Mysten Labs | Not publicly disclosed beyond current title. About - Mysten Labs |
Sam Blackshear About - Mysten Labs | Labs/DevCo | Co-Founder, CTO About - Mysten Labs | He is identified as the creator of Move, Move is described as having originally been developed for the Diem blockchain, and he is described as an original contributor to Sui. Not publicly disclosed. Move , Smart Contract Programming Language Powering Sui |
Adeniyi Abiodun About - Mysten Labs | Labs/DevCo | Co-Founder, CPO About - Mysten Labs | He is described as having begun his career as a software engineer in London, built his first crypto infrastructure business in 2012, later held leading roles at Oracle, VMWare, and Meta, and worked with the Mysten co-founders at Facebook on Libra before co-founding Mysten Labs. Adeniyi Abiodun on the Sui Blockchain's Origins and Progress |
Kostas Chalkias About - Mysten Labs | Labs/DevCo | Co-Founder, Chief Cryptographer About - Mysten Labs | Not publicly disclosed beyond current title. About - Mysten Labs |
George Danezis About - Mysten Labs | Labs/DevCo | Co-Founder, Chief Scientist About - Mysten Labs | Not publicly disclosed beyond current title. About - Mysten Labs |
Kevin Boon Mysten Labs Appoints Kevin Boon as President | Labs/DevCo | Former Chief Legal Officer at Mysten Labs; previously general counsel at Picsart, legal leader at Block, lead counsel for Amazon subsidiaries, and transactional associate at Shearman & Sterling LLP. Mysten Labs Appoints Kevin Boon as President | |
Christian Thompson Sui Appoints Christian Thompson to Lead Its Next Growth Phase | Foundation | Managing Director Sui Appoints Christian Thompson to Lead Its Next Growth Phase | Previously Deputy CISO at Meta, an early member of the Libra/Diem project, founder of Knowledge Preserve and OnDetail, and founder/co-founder of finance and community-service organizations. Sui Appoints Christian Thompson to Lead Its Next Growth Phase |
Greg Siourounis Sui Appoints Christian Thompson to Lead Its Next Growth Phase | Foundation | Former Managing Director; Strategic Advisor Sui Appoints Christian Thompson to Lead Its Next Growth Phase | Public sources state he guided Sui through launch and early features such as zkLogin, liquid staking, and DeepBook; earlier non-Sui prior experience is not publicly disclosed. Sui Appoints Christian Thompson to Lead Its Next Growth Phase |
Sui has no DAO and no onchain governance leadership body, so there are no officeholders to name. Onchain governance is exercised directly by validators through stake-weighted voting, as in the Cetus recovery vote, and tokenholders participate by delegating stake rather than by electing a council, delegate slate or executive team. Supporting Decentralization and the Sui Community Response to the Cetus Incident – Onchain Community Vote | DAO/Onchain Governance | Not applicable, because no DAO or onchain governance leadership body exists. | Not applicable, because no DAO or onchain governance leadership body exists. |
Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so. Address the lettered items below. Even if there is no DAO, there must be an answer to (d).
The intellectual property visible in the public record sits with the Sui Foundation rather than with a DAO. A Cayman Islands Intellectual Property Office gazette records Trade Mark No. T0002514 as assigned from Mysten Labs, Inc. to Sui Foundation, with transfer instructions received on June 12, 2025. Sui’s published governance materials describe delegated proof-of-stake, stake-weighted validator voting and stake delegation, and identify no codebase, repository, trademark or brand owned or controlled by a tokenholder DAO, and no licence terms attaching to any such asset. Sui has published no instrument allocating intellectual property rights to a DAO. (Source: Cayman Islands Gazette Intellectual Property Edition No. 13/2025, Supporting Decentralization and the Sui Community, Sui Appoints Christian Thompson to Lead Its Next Growth Phase)
Publicly, Sui operates through delegated proof-of-stake rather than a named DAO executive body. Validators with sufficient stake can join the validator set, tokenholders can influence operations through direct delegation, validator voting power is stake-weighted, and onchain voting is used for governance and protocol upgrades. (Source: Supporting Decentralization and the Sui Community, Announcing Sui Tokenomics)
Public sources also show emergency governance via validator voting. In the Cetus recovery vote, votes were weighted by validator stake and the Sui Foundation’s stake was excluded to maintain neutrality. (Source: Response to the Cetus Incident – Onchain Community Vote)
Delegated stakes cannot be transferred or sold until they are unstaked, and validator stake size equals network voting power. In practical terms, tokenholders can use delegated stake to influence validator selection and network operations, but tokenholders hold no direct authority over protocol actions outside the delegated governance path. (Source: All About Staking, Supporting Decentralization and the Sui Community)
Tokenholders hold no publicly disclosed claim on protocol revenue or on treasury assets. The published economics describe SUI staking rewards paid to validators and their delegators out of stake subsidies and gas fees, so the return available to a tokenholder is the staking reward earned on delegated stake rather than a distribution voted by a DAO. The Community Reserve, which holds more than half of all SUI, is described as managed by the Sui Foundation and deployed through delegation, grants, research and development and validator subsidies. Those materials establish no dividend or fee-share right, no redemption right against the treasury, and no tokenholder vote directing treasury spending. (Source: Supporting Decentralization and the Sui Community, The Sui Smart Contracts Platform: Economics and Incentives, SUI Token Allocation)
Sui has published no dissolution or wind-up authority over a tokenholder DAO. The published governance materials describe stake-weighted onchain validator voting for protocol upgrades and for emergency action, as exercised in the Cetus recovery vote, but name no body, vote threshold or procedure capable of dissolving a DAO. Sui has also published no legal-wrapper instrument, such as a DAO constitution or association articles, in which such an authority would ordinarily sit. (Source: Supporting Decentralization and the Sui Community, Announcing Sui Tokenomics, Response to the Cetus Incident – Onchain Community Vote)
For the Primary Foundation do the following independently. If an entity does not exist, state that explicitly. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definitions: The primary Foundation and DevCo can be explained as those entities which are directly involved in the issuance of the native token at launch.
The Sui Foundation is identified as an independent organization dedicated to supporting and strengthening the Sui ecosystem. The privacy policy identifies Sui Foundation as the controller of personal information under that policy and lists its contact address as 9 Forum Lane, Camana Bay, Suite 3119, Grand Cayman KY1-9006, Cayman Islands. A June 24, 2025 Cayman Islands Intellectual Property Office gazette also records Sui Foundation at c/o Leeward Management Limited, 9 Forum Lane, Suite 3119, Camana Bay, Grand Cayman, KY1-9006, Cayman Islands. (Source: About the Sui Foundation, Sui Privacy Policy, Cayman Islands Gazette Intellectual Property Edition No. 13/2025)
The public record shows at least one foundation-controlled trademark surface. A Cayman Islands Intellectual Property Office gazette records transfer instructions received on June 12, 2025 and published on June 24, 2025 assigning Trade Mark No. T0002514 from Mysten Labs, Inc. to Sui Foundation. Broader foundation control over code repositories, additional trademarks, or subsidiary entities is not publicly disclosed. (Source: Cayman Islands Gazette Intellectual Property Edition No. 13/2025)
Publicly, the Foundation manages the Community Reserve and uses it across delegation, grants, research and development, and validator subsidies. Public sources also state that the Foundation intends to deploy treasury stake across the validator set, review its staking decisions on a monthly cadence, and rebalance Foundation stake largely based on validator adherence to published staking best practices. No public source disclosed formal veto rights or other governance thresholds for these powers. (Source: SUI Token Allocation, The Sui Foundation Partners with BitGo for Digital Asset Management, Sui Network Validators)
The Sui Foundation and Mysten Labs, Inc. are presented throughout the public record as separate organizations: the Foundation as an independent organization dedicated to supporting and strengthening the Sui ecosystem, led by a Managing Director, and Mysten Labs, Inc. as a Palo Alto company offering services under its own terms of service. Neither entity’s published materials describe any shareholding, board seat, contractual right, reserved matter, funding condition or other channel through which the Foundation directs or vetoes Mysten Labs’ decision-making, and no such control is publicly disclosed. (Source: Sui Appoints Christian Thompson to Lead Its Next Growth Phase, About - Mysten Labs, About the Sui Foundation, Mysten Labs Terms of Service)
The Foundation’s publicly disclosed authorities are treasury authorities rather than protocol authorities. It manages the Community Reserve, deploys treasury stake across the validator set, reviews those staking decisions on a monthly cadence, rebalances Foundation stake largely on validator adherence to published staking best practices, and custodies digital assets with BitGo. Sui’s published materials assign the Foundation no contract pause authority, no upgrade authority and no governance-executor role, and state no multisig, veto, majority or super-majority threshold attaching to one. Protocol upgrades are instead carried out by validators through stake-weighted onchain voting, and in the Cetus recovery vote the Foundation’s own stake was excluded to maintain neutrality. (Source: Supporting Decentralization and the Sui Community, Sui Network Validators, The Sui Foundation Partners with BitGo for Digital Asset Management, Response to the Cetus Incident – Onchain Community Vote)
The Community Reserve owns more than half of all SUI tokens and is used for delegation, grants, research and development, and validator subsidies. Public sources also state that the Community Reserve earns staking rewards that are distributed through grants, awards, and partnership programs. (Source: SUI Token Allocation, Understanding Staking and SUI’s Emission Schedule, The Sui Foundation Partners with BitGo for Digital Asset Management)
For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definitions: The primary Foundation and DevCo can be explained as those entities which are directly involved in the issuance of the native token at launch.
The principal development company is Mysten Labs, Inc. Public Mysten Labs legal pages identify Mysten Labs, Inc. as the entity offering services on mystenlabs.com and list its address as 379 University Ave, #200, Palo Alto, CA 94301. The Mysten Labs news page also states that the company was founded in 2021 and is headquartered in Palo Alto, CA. Sui has not publicly disclosed the company’s state of incorporation.
(Source: Privacy Policy - Mysten Labs, Mysten Labs Terms of Service, Mysten Labs News)
Mysten Labs, Inc. Previously held at least one Sui-related Cayman trademark record. The June 24, 2025 Cayman Islands Intellectual Property Office gazette records Trade Mark No. T0002514 as assigned from Mysten Labs, Inc. To Sui Foundation. The broader DevCo IP portfolio, repository ownership, and subsidiary structure are not publicly disclosed. (Source: Cayman Islands Gazette Intellectual Property Edition No. 13/2025, Privacy Policy - Mysten Labs)
Mysten Labs’ published materials describe it as the company that built Sui and that offers services on mystenlabs.com, and assign it no role in Sui governance. Sui’s governance materials place protocol upgrades with validators voting by stake, and place the Community Reserve with the Sui Foundation, which deploys it across delegation, grants, research and development and validator subsidies. No public source gives Mysten Labs authority over DAO governance, treasury actions, protocol-controlled resources such as fees or revenue, token administration such as minting or freezing, or reward parameters such as the stake subsidy or the gas price mechanism, and none states a method or threshold by which the DevCo could exercise one.
(Source: About - Mysten Labs, Supporting Decentralization and the Sui Community, SUI Token Allocation)
The two entities are presented as separate throughout the public record, and the Foundation is described as an independent organization with its own Managing Director and its own Cayman Islands registered contact address. Neither entity’s published materials describe any founder or shareholder right, board seat, appointment right, contractual right, reserved matter or funding condition through which Mysten Labs, Inc. directs or vetoes Foundation decision-making, and no such control is publicly disclosed. (Source: About - Mysten Labs, Sui Appoints Christian Thompson to Lead Its Next Growth Phase, About the Sui Foundation)
Sui’s published materials disclose no pause authority, no upgrade authority and no governance-executor role held by Mysten Labs, Inc., and name no multisig, admin key or emergency role attributed to the DevCo. Protocol upgrades are executed by validators through stake-weighted onchain voting, and both published Mainnet incident reports describe fixes as shipped in a release that validators then rolled out, rather than as changes applied unilaterally by Mysten Labs. (Source: About - Mysten Labs, Supporting Decentralization and the Sui Community, Sui Mainnet Outage Resolution, Sui Mainnet Network Stall Resolution)
No current mechanism of this kind is publicly disclosed. The published allocation record identifies the Community Reserve, held and deployed by the Sui Foundation, together with the exchange-announced general sale and the Recognition Sale for long-standing contributors, and describes Community Reserve staking rewards as distributed through grants, awards and partnership programs. Sui has published no governance-approved, contractual or programmatic mechanism directing protocol-controlled resources, treasury assets, fees, revenue, rewards or token distributions to Mysten Labs, Inc., to its equityholders, or to its contributors, and no ongoing DevCo revenue share, fee switch or service agreement appears in the public record. (Source: About - Mysten Labs, SUI Token Allocation, Understanding Staking and SUI’s Emission Schedule)
Disclose launch and initial supply details in a single initial allocation schedule covering the token's launch.
Sui Mainnet launched on May 3, 2023, total supply is 10,000,000,000 SUI, and initial coin circulation was 528,273,717 SUI. Approximately 5% of tokens were in circulation at Mainnet launch, rising to 5.15% by the end of May 2023. Sui has not publicly disclosed a single complete launch-day locked-versus-unlocked cap-table total. (Source: Sui, SUI Token Supply and Schedule, Understanding Sui’s Token Supply, Introducing the SUI Token Sale on OKX Jumpstart)
Publicly identified launch-era buckets include a Community Reserve holding more than half of all SUI tokens for delegation, grants, research and development, and validator subsidies; a public general sale announced by OKX and KuCoin at 225,000,000 SUI per exchange announcement; and an allowlisted Recognition Sale / ecosystem-contributor pool of 25,000,000 SUI per exchange announcement for long-standing contributors. Sui has not publicly disclosed whether the OKX and KuCoin announcements represented separate exchange tranches or mirrored disclosures for the same broader Community Access Program sale. (Source: SUI Token Allocation, Introducing the SUI Token Sale on OKX Jumpstart, Announcement of Sui (SUI) Token Sale on KuCoin Spotlight, SUI Token Community Access Program (CAP) Recognition Sale)
Fixed public sale prices are disclosed rather than one single universal TGE reference price: 0.10 USD per SUI for the general sale and 0.03 USD per SUI for the Recognition Sale / ecosystem-contributor pool in the OKX and KuCoin announcements. (Source: Introducing the SUI Token Sale on OKX Jumpstart, Announcement of Sui (SUI) Token Sale on KuCoin Spotlight)
The ticker / market symbol is SUI. (Source: Sui, SUI Token Supply and Schedule, Announcing Sui Tokenomics)
SUI is described as a capped-supply asset with total supply of 10 billion tokens and a non-decreasing circulating supply path governed by scheduled releases and Foundation deployment of allocation. (Source: The Sui Smart Contracts Platform: Economics and Incentives, Sui, SUI Token Supply and Schedule, Introducing the SUI Token Sale on OKX Jumpstart)
Differentiated launch-era release schedules are publicly described. The general sale in the OKX and KuCoin announcements released an initial tranche at Mainnet / TGE and then unlocked an additional 1/13 monthly across roughly 12 months, while the Recognition Sale / Pool B disclosures said those allocations were fully unlocked at mainnet launch. Non-circulating tokens were able to be staked before general release. (Source: Introducing the SUI Token Sale on OKX Jumpstart, Announcement of Sui (SUI) Token Sale on KuCoin Spotlight, Understanding Sui’s Token Supply)
Address each of the following sub-items based on the project's airdrop status. If a sub-item does not apply to the project's situation, state that explicitly.
Planned but not yet executed airdrop
Not applicable. Sui has no planned airdrop, so there is no future recipient wallet list to commit to publishing and no prospective target segment or allocation method to describe. The Community Access Program FAQ stated expressly, as of December 18, 2022, that there were no official plans for SUI airdrops, and no Sui Foundation announcement, tokenomics page or exchange listing material published since has announced a planned airdrop. (Source: SUI Token Community Access Program: FAQ, SUI Token Community Access Program)
Executed airdrop
Not applicable. Sui has never executed an airdrop, so there is no per-address source to point to and no executed recipient set to characterise. Every SUI distribution at the token generation event was a paid sale rather than a gratis distribution: the Community Access Program sold SUI to community members directly, the Recognition Sale sold to long-standing Sui Discord participants and other allowlisted ecosystem contributors at 0.03 USD per SUI, and the general sale was administered through the OKX Jumpstart and KuCoin Spotlight lottery mechanisms at 0.10 USD per SUI, with U.S. persons and residents ineligible and KYC required in each case. Contributor allocations were fully unlocked at mainnet and general-sale allocations unlocked over roughly 12 months. No CSV, TSV or JSON allocation file, Dune table, Merkle dump, GitHub repository file embedding per-address allocations, or RPC endpoint exposing claim or amount data has been published for an airdrop, because none took place. (Source: SUI Token Community Access Program (CAP) Recognition Sale, Introducing the SUI Token Sale on OKX Jumpstart, Announcement of Sui (SUI) Token Sale on KuCoin Spotlight)
No airdrop planned or conducted
This is the applicable branch. Sui has never conducted an airdrop to date and does not plan to execute one. (Source: SUI Token Community Access Program: FAQ)
Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. For each market maker, include in a table:
If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for this item.
Sui has not publicly disclosed the full agreement-level terms requested by this section. Public sources do identify DeepBook as Sui's native liquidity layer and state that Kairon Labs supported DeepBook as its initial market maker, while KriyaDEX, Turbos.Finance, Aftermath Finance, Cetus, and MovEX helped test and use DeepBook for trading functionality and liquidity. (Source: DeepBook Supercharges DeFi on Sui)
Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table:
If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.
Sui has not publicly disclosed full listing agreements or native-token fee terms. Public sources do disclose exchange-administered sale and distribution terms that affected early SUI market structure. The OKX and KuCoin announcements each describe a 225,000,000 SUI general sale at 0.10 USD and a 25,000,000 SUI contributor / Recognition Sale at 0.03 USD, with 12-month general-sale release schedules and fully unlocked contributor-sale distributions at mainnet. The public record does not clarify whether these exchange-announced pools were separate tranches or mirrored disclosures for the same broader Community Access Program sale, and it does not disclose native-token listing fees. (Source: Introducing the SUI Token Sale on OKX Jumpstart, Announcement of Sui (SUI) Token Sale on KuCoin Spotlight, SUI Token Community Access Program (CAP) Recognition Sale)
Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide:
If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").
Exchange-administered Community Access Program sale disclosures appear in the OKX and KuCoin materials from April 2023, and Mysten Labs also lists investors including a16z Crypto, Jump Capital, Apollo Crypto, Binance Labs, and Coinbase Ventures. The public record remains incomplete on private-round instruments and does not clarify whether the OKX and KuCoin announcements reflected separate sale tranches or mirrored disclosures for the same broader CAP program. (Source: Introducing the SUI Token Sale on OKX Jumpstart, Announcement of Sui (SUI) Token Sale on KuCoin Spotlight, About - Mysten Labs, SUI Token Community Access Program (CAP) Recognition Sale)
If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself. If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").
No exploit of the SUI token contract or of Sui protocol funds has been publicly reported as of 2026-09-28. Three publicly disclosed network incidents are recorded below: two Mainnet availability incidents, and the Cetus incident, which affected a third-party application deployed on Sui and drew a protocol-level governance response.
Incident 1 of 3. Mainnet outage, 2024-11-21
2024-11-21; Sui Mainnet, congestion-control code in the validator execution path. (Source: Sui Mainnet Outage Resolution)
Incident 2 of 3. Mainnet network stall, 2026-01-14
2026-01-14; Sui Mainnet, consensus commit logic and checkpoint certification. (Source: Sui Mainnet Network Stall Resolution)
Incident 3 of 3. Cetus exploit and onchain recovery vote, 2025-05
2025-05; Cetus, a third-party decentralised exchange deployed on Sui. The Sui protocol itself and the SUI token contract were not the component exploited; the network was involved through the governance response, which was put to an onchain validator vote with a published update on 2025-05-27. (Source: Response to the Cetus Incident – Onchain Community Vote)
Incident 1 of 3. Mainnet outage, 2024-11-21
This was not an exploit. An assert! bug in congestion-control code caused validators to crash whenever estimated execution cost was zero, which put validators into a crash loop and halted the network.
(Source: Sui Mainnet Outage Resolution)
Incident 2 of 3. Mainnet network stall, 2026-01-14
This was not an exploit. An edge-case bug in consensus commit logic, triggered under certain garbage-collection conditions, caused validator divergence and stalled checkpoint certification. (Source: Sui Mainnet Network Stall Resolution)
Incident 3 of 3. Cetus exploit and onchain recovery vote, 2025-05
Cetus was exploited by an attacker who moved stolen assets into two accounts on Sui. The published Sui Foundation response describes the exploit as an attack on Cetus and does not attribute a vulnerability to Sui's own contracts or consensus. (Source: Response to the Cetus Incident – Onchain Community Vote)
Incident 1 of 3. Mainnet outage, 2024-11-21
The incident caused a complete network halt with all validators stuck in a crash loop. The published incident report states there was no loss of funds. (Source: Sui Mainnet Outage Resolution)
Incident 2 of 3. Mainnet network stall, 2026-01-14
Total user-visible disruption was approximately 6 hours. The published incident report states that no certified state forks occurred, no certified transactions were rolled back, and user funds were never at risk. (Source: Sui Mainnet Network Stall Resolution)
Incident 3 of 3. Cetus exploit and onchain recovery vote, 2025-05
No loss of Sui protocol funds or SUI tokens held by the protocol has been reported. The affected funds were those taken from Cetus and frozen in two hacker-controlled accounts; the published response states affected funds would be moved into a multisig wallet held in trust for return to impacted accounts. (Source: Response to the Cetus Incident – Onchain Community Vote)
Incident 1 of 3. Mainnet outage, 2024-11-21
A fix shipped to Mainnet in v1.37.4 and to Testnet in v1.38.1. Validators rolled out the fix and restored service within 15 minutes of the release. (Source: Sui Mainnet Outage Resolution)
Incident 2 of 3. Mainnet network stall, 2026-01-14
Validators deployed a fix, reprocessed consensus data, and resumed normal checkpoint certification and state sync. (Source: Sui Mainnet Network Stall Resolution)
Incident 3 of 3. Cetus exploit and onchain recovery vote, 2025-05
Validators representing 90.9% of stake voted yes on a recovery protocol upgrade. The recovery plan combined protocol action, Cetus treasury resources, a Sui Foundation loan, and a 4-of-6 multisig involving Cetus, the Sui Foundation, and OtterSec. (Source: Response to the Cetus Incident – Onchain Community Vote)
Incident 1 of 3. Mainnet outage, 2024-11-21
Resolved. (Source: Sui Mainnet Outage Resolution)
Incident 2 of 3. Mainnet network stall, 2026-01-14
Resolved. (Source: Sui Mainnet Network Stall Resolution)
Incident 3 of 3. Cetus exploit and onchain recovery vote, 2025-05
In recovery as publicly described, under the plan approved by the validator vote. (Source: Response to the Cetus Incident – Onchain Community Vote)
Incident 1 of 3. Mainnet outage, 2024-11-21
Post-mortem: Sui Mainnet Outage Resolution.
Incident 2 of 3. Mainnet network stall, 2026-01-14
Incident report: Sui Mainnet Network Stall Resolution.
Incident 3 of 3. Cetus exploit and onchain recovery vote, 2025-05
Governance response: Response to the Cetus Incident – Onchain Community Vote.
Describe material risk factors across the three categories below. Each category includes prompts to address at a minimum.
(a) Regulatory, Legal & Tax Risks — Describe how evolving laws and regulations could affect the project by answering, at a minimum, questions like:
Impact of Regulatory Change on TGE and Listings: (If applicable) How could evolving or conflicting laws and regulations affect your ability to complete the TGE, deliver tokens to purchasers, and list or maintain the token on trading venues in key jurisdictions?
Entity-Level Regulatory Impact: (If applicable) How could regulatory or legal changes impact your core entities (Foundation, DevCo, DAO, affiliated service providers), including enforcement actions, licensing requirements, or forced changes to structure or operations?
Tokenholder Tax Treatment: (If applicable) What uncertainties exist around how tokenholders may be taxed, and make clear that tokenholders are responsible for understanding their own tax obligations?
Jurisdictional & User Access Restrictions: (If applicable) If the project restricts access for certain jurisdictions or user types (e.g., U.S. persons, sanctioned countries, retail vs. professional), what are those restrictions and what risks do they create for users and for the project?
(b) Protocol, Technology & Security Risks — Describe risks to network and contract reliability, correctness, and safety by answering, at a minimum, questions like:
Bugs and Design Flaws: (If applicable) What bugs, design flaws, or implementation errors could exist in your core protocol code, smart contracts, and any bridges, rollups, or oracles that you depend on, and how could these lead to loss of funds or disruption of the protocol?
Security Measures & Their Limitations: (If applicable) What security measures have you taken (audits, formal verification, bug bounties), and what types of failures might these measures still fail to detect or prevent?
(c) Token Economics, Unlocks & Incentive Risks — Describe how the token's economic design and supply schedule could affect holders by answering, at a minimum, questions like:
Critical Economic Assumptions: (If applicable) Which economic assumptions (e.g., staking yields, fee revenue, liquidity incentives, MEV capture, demand for blockspace) are critical for protocol security, utility, and governance, and what happens if those assumptions fail?
Governance Control over Monetary Policy & Rewards: (If applicable) To what extent can governance change monetary policy, fee parameters, or reward allocations (e.g., inflation rate, treasury flows, incentive programs), and how could such changes adversely affect tokenholders?
Impact of regulatory change on TGE and listings
SUI completed its token generation event and public sale in 2023, so the live regulatory exposure is to continued token delivery and venue availability rather than to completing a TGE. Public sale materials show the sale surfaces themselves were jurisdictionally gated: U.S. persons and residents were ineligible, participation required exchange KYC and sanctions screening, and operational constraints excluded some geographies that were not themselves under sanctions. Evolving or conflicting rules in key jurisdictions could therefore restrict which venues can list or maintain SUI and which users those venues may serve. Sui has not publicly provided a project-specific contingency matrix for how future regulatory change would affect venue listing maintenance. (Source: Introducing the SUI Token Sale on OKX Jumpstart, Announcement of Sui (SUI) Token Sale on KuCoin Spotlight, SUI Token Community Access Program (CAP) Recognition Sale, Terms of Service)
Entity-level regulatory impact
The Sui Foundation is identified as an independent organization, its privacy policy lists a Grand Cayman, Cayman Islands contact address, and the sui.io terms state that use of the interface is governed by Cayman Islands law with disputes subject to binding individual arbitration in the Cayman Islands. Mysten Labs, Inc. is identified on its own legal pages as a Palo Alto, California entity whose mystenlabs.com services are governed by California law and subject to Santa Clara County court venue outside arbitration. Regulatory or legal change in either the Cayman Islands or the United States could therefore reach a different one of the two core entities, and could bring enforcement exposure, licensing requirements, or forced changes to structure or operations. Sui has not publicly disclosed a contingency plan for entity restructuring under such change.
(Source: About the Sui Foundation, Sui Privacy Policy, Terms of Service, Privacy Policy - Mysten Labs, Mysten Labs Terms of Service)
Tokenholder tax treatment
The published terms state that users are solely responsible for determining, collecting, reporting, and paying applicable taxes and for maintaining relevant tax records. Sui has not published guidance on how staking rewards, airdrop receipts, or disposals are treated in any particular jurisdiction, and tax treatment of digital assets continues to differ between jurisdictions and to change. Tokenholders are responsible for understanding and meeting their own tax obligations. (Source: Terms of Service)
Jurisdictional and user access restrictions
The sui.io terms require users to represent that they are not located in restricted territories and are not on sanctions lists. The public sale materials show that U.S. persons and residents were ineligible for the sale surfaces, that participation required exchange KYC and sanctions checks, and that operational constraints prevented participation from some geographies. Those restrictions create access risk for affected users and create ongoing screening and compliance obligations for the interfaces and venues that apply them.
(Source: Terms of Service, Introducing the SUI Token Sale on OKX Jumpstart, Announcement of Sui (SUI) Token Sale on KuCoin Spotlight, SUI Token Community Access Program (CAP) Recognition Sale)
Bugs and design flaws
Sui has experienced at least two publicly disclosed Mainnet incidents: a November 21, 2024 crash-loop outage tied to congestion-control code, and a January 14, 2026 network stall caused by consensus-processing divergence. Both show that bugs in consensus, execution, or congestion-control logic can halt transaction processing on the live network even where safety properties are preserved. Neither incident resulted in a reported loss of user funds, but a halt of this kind disrupts the protocol and any application or bridge that depends on timely settlement. (Source: Sui Mainnet Outage Resolution, Sui Mainnet Network Stall Resolution)
Security measures and their limitations
Publicly disclosed security measures include the official security hub, a public bug bounty page enumerating reportable protocol and validator impacts, and a published Halborn Core L1 audit reporting zero critical findings, zero high findings, one medium finding and two informational findings in the audited scope, with the medium issue remediated in pull request 10511. Those same sources show the limits of such measures: the 2024 and 2026 incidents still required emergency fixes, validator rollout and recovery procedures, and the security materials frame ongoing monitoring and repeated third-party review as necessary rather than sufficient. Audits and bounties scoped to particular components do not detect novel consensus-level faults, faults in unaudited code paths, or operational failures during rollout. (Source: Audits and Resources, Bug Bounty Program, Halborn Sui Core L1 Audit, Sui Mainnet Outage Resolution, Sui Mainnet Network Stall Resolution)
Critical economic assumptions
SUI has a capped 10 billion token supply, initial coin circulation of 528,273,717 SUI, roughly 5% of supply circulating at Mainnet launch, and additional tranches released over time under a schedule influenced by Foundation deployment of its allocation. More than half of all SUI sits in the Community Reserve and funds delegation, grants, research and development, validator subsidies and other ecosystem programs. Validator and holder incentives depend on delegated proof-of-stake, validator performance, gas-fee economics and periodic token releases: early validator rewards combined stake subsidies with gas fees, long-run validator rewards are expected to come from gas fees, the Storage Fund affects validator rewards, and low-scoring validators can have rewards slashed. If onchain activity and gas-fee revenue do not grow enough to replace stake subsidies as they taper, validator economics and therefore network security depend more heavily on continued Community Reserve deployment. (Source: Sui, SUI Token Supply and Schedule, Understanding Sui's Token Supply, SUI Token Allocation, Sui Network Validators, The Sui Foundation Partners with BitGo for Digital Asset Management)
Governance control over monetary policy and rewards
SUI's total supply is capped at 10 billion, so there is no governance power to inflate the supply. The discretion that does exist sits with the Sui Foundation rather than with a tokenholder vote: the release schedule for remaining supply is influenced by Foundation deployment of its allocation, the Community Reserve funds delegation, grants, validator subsidies and other programmes at the Foundation's direction, and the Foundation rebalances treasury stake over time based largely on validator adherence to staking best practices. Public sale materials also show differentiated pricing and unlock schedules that shape circulating float and participant incentives: general-sale allocations were priced at 0.10 USD per SUI and unlocked first at mainnet with monthly 1/13 releases thereafter, while Recognition Sale and Pool B allocations were priced at 0.03 USD per SUI and fully unlocked at mainnet launch. Decisions by the Foundation over the pace of reserve deployment, subsidy levels or treasury restaking can therefore materially affect circulating supply, validator rewards and tokenholder economics without a tokenholder vote. (Source: Sui, SUI Token Supply and Schedule, Understanding Sui's Token Supply, SUI Token Allocation, Sui Network Validators, Introducing the SUI Token Sale on OKX Jumpstart, Announcement of Sui (SUI) Token Sale on KuCoin Spotlight)
This Token Transparency Filing is provided for general informational purposes only and does not verify or warrant the accuracy of individual answers.
